Netflix tops $100bn valuation as it draws in more customers

Original series such as The Crown, starring Claire Foy, helped Netflix to boost customer numbers and hit a record valuationNetflix

Netflix’s valuation passed $100 billion for the first time last night after it reported rapid growth in its customer base at the end of last year.

Its shares jumped by 8.4 per cent in after-hours trading after it said that it had added 8.3 million subscribers in the fourth quarter, well ahead of its forecast of 6.3 million.

Netflix has grown from a company that rented DVDs by post into the world’s largest streaming video service. Customers buy monthly subscriptions, starting at £5.99 in the UK, to access Netflix’s extensive online library of films and television series.

Like other video streaming services such as Amazon Prime Video, Netflix is pouring billions of dollars into buying original films and television series and creating its own. High-quality…